🧠 Bitcoin Is King — But Ethereum and Dogecoin Rule the Wallet Game

Bitcoin may be the top dog in price, but when it comes to real-world user adoption, it’s not even in the top two. New data shows that Ethereum and Dogecoin are leaving BTC in the dust when it comes to the number of wallets — and that says a lot about how crypto is actually being used in 2025.

📊 Wallet Wars: Ethereum Dominates with 148M+ Addresses

Let’s break the myth right now: Bitcoin ≠ Most Held Coin

According to Santiment, here’s how the numbers stack up:

• 🧪 Ethereum (ETH) — 148.38M wallets
• 🟠 Bitcoin (BTC) — 55.39M wallets

That’s nearly 3x more wallets for ETH. Why? Because Ethereum powers everything — DeFi, NFTs, layer 2s, memecoins, you name it. If you’ve ever paid gas, minted a JPEG, or staked a token, chances are you needed an ETH wallet.

🐶 Dogecoin, the Meme That Won’t Die

Coming in hot at #3:

• 🐕 Dogecoin (DOGE) — 7.97M wallets

That’s more than Tether, more than XRP, and way more than Cardano. DOGE may be a joke, but nearly 8 million wallets holding it is no punchline.

Other honorable mentions:

• 💵 Tether (USDT) — 7.79M wallets
• 💫 XRP — 6.53M wallets
• 🔷 Cardano (ADA) — 4.49M wallets
• 🪙 USD Coin (USDC) — 3.30M wallets
• 🔗 Chainlink (LINK) — 766K wallets

🕵️ What Does Wallet Count Actually Tell Us?

Let’s be real: One person = many wallets. But even with that caveat, wallet numbers are a solid proxy for:

• 📈 Network effect
• 👛 Ecosystem stickiness
• 🔗 Real-world adoption

Bitcoin may be the ultimate store of value, but it’s Ethereum and friends that are powering the on-chain lifestyle — dApps, DAOs, NFTs, yield farming, AI agents, and more.

🌍 Utility > Price in the Long Run?

This bull run isn’t just about “number go up.” It’s about which chains are being used — and how often. The rise of wallet numbers shows that:

• 🔥 Ethereum is the engine of Web3
• 🧠 DOGE has staying power through culture
• 💸 Stablecoins are more than just trading tools — they’re becoming actual money

🧠 TL;DR

• 📉 Bitcoin has 55M wallets — way fewer than Ethereum’s 148M
• 🧪 Ethereum leads thanks to DeFi, NFTs, and gas fee usage
• 🐶 Dogecoin still going strong with nearly 8M wallets
• 💵 Wallet count = adoption metric, not just trader hype
• ⚡ The next phase of crypto is about real usage, not just high prices

Bitcoin is valuable. Ethereum is used. The wallets don’t lie.